Agenda - 05-26-2015 - C-1 - Laserfiche WebLink

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62 I�.AS�t:��►Ull�a<D9.�S Selling Timber& Consulting Foresters Consulting Forester I HIGHLY recommend having a private consulting forester handle your timber sale. Although they charge a fee, consultants generally find their landowner a better price for their stumpage. This should be the first thing you do, as your consultant can help you decide when to begin work. I have enclosed a list of consultants that you may contact. Attached you will find some information about selling timber and information that needs to be part of the timber sale contract. As with any forestry operation, someone should monitor the operation closely. You could also notify the NC Forest Service when logging is occurring so we can perform a water duality inspection. Environmental Concerns All forestry activities should be performed in a responsible manner and with minimum site disturbance. The following need to be considered when harvesting: ✓ All forestry activities are required to follow the NC Forest Practice Guidelines (FPG's) in order to remain exempt from the Sedimentation Pollution Control Act. PPG's are performance standards established to help protect North Carolina's water quality. ✓ The law holds you equally responsible for compliance with these regulations. You need to use your timber contract to put the responsibility back on the logger and timber buyer. ✓ Forestry activities must also comply with the Neuse, Tar-Pamlico, and Jordan Lake River Basin rules (where applicable). ✓ Any activity involving heavy machinery should be done when the soil is dry to help prevent rutting and soil compaction. ` briber "Basis" You will owe federal and state tax on any net timber sale income (your"gain"). Your taxable income is the grass dollar value of the sale, less any costs of selling the timber (consultant fees,temporary road improvements, etc.), AND less your adjusted timber "basis". Your original basis is usually one of the following: 14